dropped sharply Friday morning after the company disclosed that C. Ramachandra Rao, its long-serving Joint Managing Director and CFO, will relinquish the Chief Financial Officer role effective June 1, 2026. The stock fell to an intraday low of ₹1,180 before recovering to around ₹1,220, down nearly 6 per cent from Thursday’s close of ₹1,297. Over 19.75 lakh shares have traded so far, with sell orders running ahead of buys — 87,056 units against 72,956 as of 12.46 pm.
Ramachandra Rao, a Chartered Accountant and Law Graduate with over 50 years of experience, has been closely associated with Avanti since its early days and has held the CFO position alongside his JMD and Company Secretary roles. He cited preoccupation with new project work and succession planning as reasons for stepping aside. Mrs. B. Santhi Latha, General Manager (Finance & Accounts) with 30 years of professional experience and 15 years at the company, has been elevated as the new CFO.
The management change overshadowed an otherwise solid set of results. Consolidated net profit for the full year ended March 31, 2026 rose to ₹65,680 lakh from ₹55,705 lakh a year ago, while revenue from operations climbed to ₹6,06,585 lakh from ₹5,59,869 lakh. The board recommended a final dividend of ₹10 per share. However, the March quarter profit at ₹13,885 lakh was notably weaker than the ₹16,347 lakh posted in the December quarter, and results included a one-time impairment charge of ₹1,297 lakh on associate Patikari Power Private Limited, whose hydel plant in Himachal Pradesh was damaged in a cloudburst last July.
The board also approved the re-appointment of Chairman and Managing Director Dr. A. Indra Kumar for a further five-year term from July 1, 2026. At current levels, Avanti trades at a P/E of 26.93 with a market cap of approximately ₹16,622 crore, still up around 39 per cent year-to-date.